Massive Relief: PM Approves Rs 32.12 Cut in Diesel Prices; Petrol Rates Remain Unchanged
ISLAMABAD: In a major move to provide relief to the public, the Prime Minister of Pakistan has approved a significant reduction in diesel and kerosene oil prices. However, according to the official notification, petrol prices will remain unchanged for the next fortnight.
Significant Drop in Diesel Prices
According to a statement issued by the Prime Minister’s House, the price of High-Speed Diesel (HSD) has been slashed by Rs 32.12 per liter. Following this approval, the price of diesel has dropped from the previous Rs 385.54 to the new rate of Rs 353.43 per liter.
PM’s Vision for Inflation Relief
The Prime Minister emphasized that the government is committed to passing on the benefits of falling global oil prices to the common man as quickly as possible. He directed authorities to ensure that this reduction in fuel costs translates into lower transport fares and reduced prices for essential commodities.
Kerosene Oil and Petrol Update
While diesel consumers received a major boost, the Petroleum Division’s notification confirmed mixed news for other fuel types:
- Kerosene Oil: Reduced by Rs 21.34 per liter, bringing the new price down to Rs 428.81 per liter.
- Petrol: Prices remain steady with no change, maintaining the previous rate.
Impact on the Economy
Economic experts suggest that the reduction in diesel prices is a crucial step in controlling inflation. Since diesel is the primary fuel for heavy transport and agricultural machinery, this cut is expected to lower the cost of logistics and farming, potentially leading to a decrease in food prices across the country.